Alnylam Pharmaceuticals (NASDAQ:ALNY) Sets New 1-Year High at $285.84

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) reached a new 52-week high during trading on Wednesday . The company traded as high as $285.84 and last traded at $283.48, with a volume of 68579 shares changing hands. The stock had previously closed at $280.26.

Wall Street Analyst Weigh In

Several brokerages have commented on ALNY. Raymond James raised their target price on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. BMO Capital Markets reissued an “outperform” rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Chardan Capital restated a “buy” rating and issued a $225.00 target price on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Finally, Canaccord Genuity Group lifted their price target on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.59.

Alnylam Pharmaceuticals Price Performance

The stock has a market capitalization of $35.74 billion, a price-to-earnings ratio of -104.57 and a beta of 0.37. The stock’s 50 day simple moving average is $248.89 and its 200-day simple moving average is $185.50.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. The firm’s revenue for the quarter was up 107.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.21) EPS. As a group, equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -3.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 32,450 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the sale, the director now owns 136 shares of the company’s stock, valued at $30,013.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David E. I. Pyott sold 32,450 shares of Alnylam Pharmaceuticals stock in a transaction on Monday, June 24th. The shares were sold at an average price of $220.69, for a total value of $7,161,390.50. Following the transaction, the director now owns 136 shares in the company, valued at approximately $30,013.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the transaction, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. The disclosure for this sale can be found here. Insiders sold 103,148 shares of company stock valued at $25,658,824 over the last quarter. Insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Alnylam Pharmaceuticals in the 4th quarter worth $390,438,000. Capital International Investors grew its position in Alnylam Pharmaceuticals by 15.8% during the fourth quarter. Capital International Investors now owns 3,586,657 shares of the biopharmaceutical company’s stock worth $686,641,000 after buying an additional 488,814 shares in the last quarter. Vanguard Group Inc. increased its stake in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock valued at $2,286,181,000 after acquiring an additional 287,064 shares during the period. Capital Research Global Investors raised its holdings in Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after acquiring an additional 214,908 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Alnylam Pharmaceuticals by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after acquiring an additional 201,784 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.